The USD/JPY currency pair began Tuesday's Asian session unchanged, following a significant 0.74% loss registered on Monday. Currently trading around 149.59, the pair has seen a slight increase of 0.06%. As a major currency pair in the Forex market, the USD/JPY is influenced by various factors, including the economic conditions of the United States and Japan, as well as monetary policies implemented by the US Federal Reserve and the Bank of Japan.
Forex traders pay close attention to the USD/JPY due to its high liquidity and popularity among both institutional and retail traders. The pair's performance is affected not only by domestic economic indicators but also by the trade balance between the US and Japan. Additionally, interest rate differentials between the two countries play a crucial role in shaping the pair's movements.
Global economic events and governmental policies from both nations further impact the USD/JPY. As a key currency pair in the Forex market, it is subject to fluctuations based on these external influences. The USD/JPY's resilience in maintaining stability amid such factors underscores its significance to Forex traders.